Jan 21 (Reuters) – The head of Venezuela’s main business association said the group welcomes the economic measures announced so far by the country’s interim government, including a fresh injection of foreign currency funded by oil revenues, saying the moves will help stabilize the exchange market and prices.
Venezuelans have suffered a long economic deterioration marked by shortages, triple-digit inflation and the devaluation of the local bolivar currency, with the monthly minimum wage equivalent to just $0.37. Though public sector workers earn about $120 with bonuses, analysts estimate basic products for a family cost some $500 per month. Even those working in the private sector, which pays higher salaries, often earn bolivar-denominated wages in an economy that has been largely dollarized for years.
Supplies of dollars, which businesses need in order to bring in imported materials, tightened sharply at the end of 2025, as the U.S. seized Venezuelan oil tankers and hit the country’s top revenue flow, stoking inflation.
But Venezuela’s acting president Delcy Rodriguez said on Tuesday the country had received $300 million in oil sales, the first funds to arrive under a 50‑million‑barrel supply agreement announced by U.S. President Donald Trump following the capture of Rodriguez’s predecessor Nicolas Maduro earlier this month.
“We welcome steps aimed at regularizing and stabilizing the exchange system…any exchange gap affects the pricing system,” said Felipe Capozzolo, president of Fedecamaras, the country’s main private sector guild, in an interview late on Tuesday, referring to the difference between the official and unofficial exchange rates. “Businesspeople are the first to want price stability in Venezuela. We will support any measure taken by the government aimed at stabilizing the economy.”
Businesses still face challenges like inflation, tax pressures and financing restrictions, Capozzolo said, but expectations about the economy are beginning to improve on renewed momentum in the oil sector and a possible rise in investment.
“A different perception is beginning to take shape about what our economic performance might be,” he said.
The government has said the economy grew 9% in 2025, though it has not provided inflation data. Local analyst firms estimate much more modest economic growth of around 3% and consumer price rises above 400% last year.
Venezuelans hope more oil exports will boost the economy and improve wages battered by soaring inflation.
“Venezuelans want to earn a decent income. Our wages are worthless, on the floor. We need investors to come, because there are no good jobs,” said Moises Figueredo, a 56‑year‑old security guard, as he bought food at one of Caracas’ main markets. “I hope things improve.”
“I worked at a ministry but left because the situation was tough, my salary wasn’t enough even for transport,” said Celis Chirinos, 44, a fruit and vegetable vendor. “What we want is to work, to see things improve.”
(Reporting by Reuters; Editing by Andrea Ricci )
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